Taos auditors give town a clean opinion; council accepts 2024 financial statements

Taos Town Council unanimously accepted the Town of Taos fiscal year 2024 financial statements after auditors from Court of the CPAs presented a clean, unmodified opinion.

The audit presentation on April 22 was led by Robert Gonzales, the engagement principal for Court of the CPAs. Gonzales told the council the auditors issued an "unmodified opinion," the standard phrase for a clean audit, and that the town also received an unmodified opinion on required federal program testing for the Taos Pueblo Water Rights Settlement Program. He said no current-year findings were reported and prior-year reporting findings had been resolved.

The auditors' report showed the town's revenues decreased from about $39 million in 2023 to $37 million in 2024, largely because of differences in airport-related federal grant activity, while expenses rose from roughly $27 million to $31 million. Gonzales said cash and investments increased, with total cash rising from about $39.4 million to $47.7 million and the general fund balance increasing to approximately $13.1 million.

Jonathan (Finance Director) and other staff answered council questions after the presentation. Mayor Maestas and council members thanked staff for the sustained work that produced a clean audit, with one councilor calling it a significant achievement after several years of addressing prior findings.

Council then approved Resolution 25-19, the statutorily required acceptance of the fiscal year 2024 audit, by unanimous roll-call vote.

Why it matters: A clean audit signals that the town's financial statements were prepared in accordance with generally accepted accounting principles, that federal program compliance was acceptable for audited grants, and that previously reported issues are being addressed. The acceptance is a formal step required after the Office of the State Auditor clears the report.

Votes at a glance: Resolution 25-19 (Acceptance of FY2024 financial statements) — motion made by Mayor Pro Tem Fambro; second by Councilor Oswald; vote: Yes — Councilors Bamberg/Fambro/Oswald/Ortega/Fernandez (unanimous).

Provenance: The auditor's presentation and the council acceptance are recorded in the meeting transcript during the financial audit item (auditor Robert Gonzales) and in the consent-vote sequence where Resolution 25-19 was moved, seconded, and adopted.

Ending: Council members said the town will post the full audit and related materials on the town website and the state auditor's site for public review.